And just how is EW going to be tough on firms? Forgive my skepticism but EW's title is executive assistant to the President and executive assistant to the Treasury Secretary who has no use for her ideas.

Maybe you missed the fine print in the legiislation but only the Director of the CFPA (not an executive assistant to the President) can issue subtantive regulations that affect the financial services industry which requires confirmation of the Director by the Senate. Without confirmation EW cant do doodly.

Also the CFPA director cannot even issue rules regulating consumer loans until July 21, 2011 when regulatory authority is tranferred from 7 other federal agencies to the CFPA.

If you think about the logical outcome of Obe Wan's political posturing in catering to the liberal left's agenda, at some point in the next year EW will to return to accademia after declaring "Mission Accomplished" to avoid the CFPA becoming another ineffective regulator since she will never be confirmed as CFPA director by the Senate.

It is admirable that you have conceeded that EW as a presidental assistant has no authority to issue CFPA regulations governing the financial services industry. The question is whether she will be able to work with Geithner.

EW is political history inside the beltway and she will not have any input as to who will be the director. The senators whose votes are necessary to confirm the director will have the most say of who is nominated.

Why do you think that a permanent Director of the CFPA will want to engage in a turf war with FINRA which will only lead to congressional criticism of both agencies not being able to work together? I think that media people try to provoke fights between regulators just so they have something to write about on a slow news day.

As for July 21 not being that far off why are you assuming that a permanent director will be confirmed by that date?